Brian Olsen, vice president of operations with DBSI-Discovery,said the company seeks new stabilized income properties in growingmarkets. "The Overland Park market fits that criteria,demonstrating good demographics and growth. It's near Kansas Cityand has favorable income trends," he tells GlobeSt.com.
He says the Highlands property is 86% occupied, with tenantsincluding Verizon and Massachusetts Mutual Life. The Southcreek IIIproperty is 77% occupied, with tenants including Accredo HealthGroup and Gentiva Health Services, Olsen says.
He would not reveal the purchase price or the lease rates of theproperties. According to a CB Richard Ellis market report, theaverage lease rate in the Kansas City, KS area is $11.38 per sf,but has a 91.6% occupancy rate. The company represented Opus in thedeal.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
